2 weeks Ago
The Department of Agrarian Reform announced on Sunday that it has condoned nearly P41 million in unpaid debt owed by more than 1,000 agrarian reform beneficiaries in Mulanay, Quezon. In a statement, DAR said its Calabarzon regional office distributed Certificates of Condonation with Release of Mortgage to 1,124 ARBs, officially clearing their outstanding amortizations and interest with the Land Bank of the Philippines. The condonation covers 1,390 Collective Certificates of Land Ownership Awards over 1,662 hectares of agricultural land, making it one of the agency’s most extensive debt relief initiatives to date.
“You are very fortunate because, under Republic Act 11953 or the New Agrarian Emancipation Act, you are no longer required to pay your land debts,” OIC-Provincial Agrarian Reform Program Officer II Ma. Gemma Esguerra said in the statement. Signed into law by President Ferdinand "Bongbong" Marcos Jr.
in July 2023, the New Agrarian Emancipation Act condones all amortizations, interest, and penalties on land awarded to ARBs . The law is expected to benefit 610,054 farmers and write off P57.56 billion in land-related debts.
In early 2024, Marcos reaffirmed his commitment to completing the government’s agrarian reform agenda by the end of his term in 2028. — DVM, GMA Integrated News.
